Occupied Duplex With Covered
For Sale
$140,000
330 Chennault St, Morgan City, LA 70380
Fully occupied duplex with two apartments, private laundry rooms, and covered parking with patios.
Property Size2,225 SF
Price / SF$62.92
Days on Market157
Property Features for 330 Chennault St
General Information
Standard status
Active
Size
2,225 SF
Property subtype
Residential Income
Occupancy
100%
Amenities
individual laundry room
covered parking/patio
Building Details
Tenancy
Multi
Listing Agency:
Anslum Real Estate, LLC
(985) 714-9961
Listed By:
Anthony Dunn · License #995718190
(985) 519-1742
Source:
Exprealty
Added: Apr 16
Changed: Sep 13
Last Checked: Sep 18 at 8:26AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Anslum Real Estate, LLC
Investment Insights
Based on property information with market context.
This duplex contains two apartments, each configured with two bedrooms and one bathroom. Both units include a dedicated laundry room, along with covered parking and a covered patio. The property is reported at 2,225 in size and is fully occupied, providing an existing residential income configuration at 330 Chennault St in Morgan City, Louisiana.
Key Highlights
- Two 2‑bedroom, 1‑bath apartments
- 100% occupancy
- Individual laundry room for each apartment
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$11,633
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.31%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$232,660
$232.7K
Cap Rate 7%
$166,186
$166.2K
Cap Rate 9%
$129,256
$129.3K
Market Conditions
NOI Build-Up for 2,225 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$22.7K $10.20/SF
− Vacancy
−$1.5K −$0.69/SF
EGI
$21.2K $9.51/SF
− OpEx
−$9.5K −$4.28/SF
NOI
$11.6K $5.23/SF
Area
St. Mary County, LA
Vacancy
6.80%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$232,660
Cap Rate 7%
$166,186
Cap Rate 9%
$129,256
Alternative Uses
Best Use
Multifamily LT 5
$185.2K
$162.1K – $216.1K
NOI $12,966 @ 7.0% cap · market cap 9.26%
Second Best
Apartment 5plus
$166.2K
$145.4K – $193.9K
NOI $11,633 @ 7.0% cap · market cap 8.31%
Theoretical Best
Office A
$379.6K
$332.2K – $442.9K
NOI $26,574 @ 7.0% cap · market cap 18.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
193
Businesses Nearby
Explore this area
Business Placement
Demographics for 70380, LA
21,079
Population
9,739
Households
2.2
Avg Household Size
40
Median Age
13%
College-Educated
77%
High-School Grad
77.7 sq mi
ZIP Area
271
Density / Sq Mi
$54,504
Median Household Income
$40,731
Median Earnings
$876
Median Rent
$138,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Fully occupied duplex with two apartments, private laundry rooms, and covered parking with patios.
Where is this duplex located?
The property is located at 330 Chennault St Morgan City, LA.
What is the asking price?
The asking price for this property is $140,000.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bath apartments; 100% occupancy; Individual laundry room for each apartment
